NBR has returned to its Mean and may be a good long candidate. After testing the mean and bouncing back NBR may be worth entering here.
We tried for an entry on 5/24 after seeing NBR lift off. Since it was above the R2 line using the PivotPoints study we decided to wait for a pull back to at least R1. R1 is at 26.86 so a limit order at 26.90-26.92 wouldn’t be a bad place to get in. Around 10:55 our order to enter the position was filled. We’ve let this one run for a few days now and it is up over .72 The exit target would be in the 32.00-33.00 range Taking half off the table at the first regression channel at around 29.50 might not be a bad strategy as well.
